The top 10 destinations for retirees moving across America

Perhaps the best way to find out which states are winners for retirees: Forget surveys and expert opinions, and find out where the most retirees are actually moving.

There are plenty of lists about where retirees should move — often locations with good affordability, low taxes, great weather, and plentiful cultural and recreational opportunities. But SmartAsset, a website that offers free online personal finance tools, crunched U.S. Census Bureau migration statistics and discovered the most popular places for retirees. (In case you were wondering, the state where the most retirees are leaving is New York, followed by Illinois, California, Pennsylvania and New Jersey.)

Wikipedia

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10. Delaware: Perhaps some of the retirees fleeing relatively high-tax states on the eastern seaboard are relocating to Delaware for its low property taxes. The state has the lowest average property-tax rate of any of the states on the list, said Timothy P. Bjur, senior writer and analyst focusing on state income tax for Wolters Kluwer, a tax information company. Delaware also doesn’t have a sales tax. For those who really want to avoid high taxes, “retirees should look at the big picture and consider not only taxes on retirement benefits, but also income-tax rates, sales taxes and property taxes,” Bjur said. In 2014, the net migration of people over the age of 60 moving into Delaware was 3,189.

BloombergNashville

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9. Tennessee: Tennessee’s income tax is imposed only on an individual’s interest and dividend income — and people are exempt from the tax if their income isn’t above $37,000, or $68,000 for married taxpayers filing jointly, Bjur said. The state also has a low cost of living. The net migration of people over the age of 60 to Tennessee was 3,368 in 2014.

BloombergReno, Nev.

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8. Nevada: Nevada has a warm and dry climate, and it’s one of seven states without an income tax, Bjur said. Henderson, Nev. — the second most populated city in the state, behind Las Vegas — is the biggest draw for retirees and ranks third on SmartAsset’s list of cities that retirees move to most. The net migration of people over 60 moving into Nevada: 6,344.

ShutterstockPortland, Ore.

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7. Oregon: Oregon was a surprise on this list, said A.J. Smith, vice president of content for SmartAsset. The Pacific Northwest state’s cool climate is “not traditionally thought of as retiree weather,” Smith said. Oregon also has some of the highest personal income taxes in the country. But the state’s scenery and its wine country are draws, and Smith said that the state’s popularity among retirees shows they “are looking for places to be active.” This is despite the fact that other West Coast states, Washington and California, are losing retirement-age residents. There is one significant tax perk to living in Oregon, however: no sales tax. In 2014, the net migration of people over 60 moving to Oregon was 6,740.

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6. Texas: People of all ages are migrating to Texas, and a healthy job market is a big reason for that — despite the slump in the oil industry. “Even though Texas is known for oil, its jobs markets are actually diverse, with people moving to the state for jobs in the medical, tech and other fields,” said Rachel Musiker, spokeswoman for Redfin. That may be why retirees looking to mix business into their retirement plans might be drawn to Texas. The state also offers a warm climate and no income taxes — both pluses for retirees. And apparently Austin is as attractive to retirees as it is to young people; the city ranked No. 10 among the top cities to which retirees relocated in 2014. Net migration of people over 60 moving to Texas that year: 7,417.

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5. North Carolina: The low cost of living might draw retirees to North Carolina and cities like Charlotte (pictured, above). And while living near the ocean is attractive to many, there are also a number of college towns in the state that may also appeal to retirees, as does Asheville. Charlotte is No. 8 on the list of top cities to which retirees are moving. The net migration of people over 60 moving to North Carolina in 2014: 10,602.

Getty ImagesSavannah, Ga.

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4. Georgia: “Georgia has the most generous individual income-tax deduction for retirement income of the states on this list,” Bjur said. Those age 65 and older are allowed to deduct up to $65,000 of retirement income each year; the amount is $35,000 for taxpayers between the ages of 62 and 65. In 2014, the net migration of people over the age of 60 moving to Georgia was 10,753.

ShutterstockCharleston, S.C.

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3. South Carolina: The beaches and the low cost of living in South Carolina draw retirees, as do low property taxes. The net migration of people over 60 moving to the state in 2014 was 12,295.

Getty ImagesSedona, Ariz.

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2. Arizona: This state had four of the top 10 cities retirees relocated to in 2014, including the No. 1 city on the list, Mesa. (The others that made the list were Phoenix, Chandler and Scottsdale.) The pleasant weather is a draw, but low taxes are, too; its top marginal tax rate of 4.54% is one of the lowest state marginal income-tax rates, Bjur said. In 2014, the net migration of people over 60 into Arizona was 18,733.

Getty ImagesMiami

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1. Florida: With a net migration of 57,724 in 2014, more people over the age of 60 flocked to Florida than the next most popular four states combined. Three cities also appeared on the top 10 cities list: Cape Coral, Jacksonville and Port St. Lucie. Besides the draws of warm weather and beaches, Florida also is one of seven states that doesn’t tax individual income.

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